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The Darkmoon Faire occurs once a month (starting the first Sunday of the month and lasting until the next Saturday).

There are numerous daily quests, in the form of silly games, that you can complete on the Faire grounds for Darkmoon Prize Tickets. These tickets can be used to purchase a number of things including pets, mounts, heirlooms and transmog gear.

In addition to the daily games, there are monthly quests that will grant you +5 skillups to all primary and secondary professions. Some of them require additional reagents that you will have to purchase ahead of time:

In April, new achievements, a new toy, a new battle pet, and a limited item are available. (Don't worry, you'll still be able to obtain everything from March; just choose the Racing Strider instead of the new Rocketeer racer.)

Don't forget that with the 6.1 update, heirlooms offered by Daenrand Dawncrest now cost less tickets! If you prefer not to spend gold at Estelle Gendry / Krom Stoutarm, this is an alternative source. Keep in mind when purchasing, however, that there is a finite amount of Darkmoon Prize Ticket that can be earned each month (per character).